Cannae Holdings, Inc. (CNNE) To Go Ex-Dividend on September 16th

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.12 per share on Monday, September 30th. This represents a $0.48 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, September 16th.

Cannae has a dividend payout ratio of -84.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Cannae to earn ($0.58) per share next year, which means the company may not be able to cover its $0.48 annual dividend with an expected future payout ratio of -82.8%.

Cannae Stock Performance

Shares of CNNE stock traded down $0.52 during trading hours on Thursday, hitting $19.59. The company had a trading volume of 30,629 shares, compared to its average volume of 615,785. The company’s fifty day moving average is $18.45 and its 200 day moving average is $20.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.06 and a current ratio of 3.32. Cannae has a fifty-two week low of $15.93 and a fifty-two week high of $22.99.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.94). The company had revenue of $110.70 million during the quarter, compared to analyst estimates of $126.23 million. Cannae had a negative return on equity of 16.50% and a negative net margin of 74.62%. The business’s revenue was down 28.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Equities research analysts anticipate that Cannae will post -1.8 earnings per share for the current year.

Insiders Place Their Bets

In other Cannae news, Director Richard N. Massey sold 25,752 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $19.38, for a total value of $499,073.76. Following the sale, the director now directly owns 248,615 shares of the company’s stock, valued at approximately $4,818,158.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.90% of the stock is owned by company insiders.

About Cannae

Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc was founded in 2014 and is based in Las Vegas, Nevada.